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3232Beyond Trends: Industry Experts And Practitioners Weigh In On What Will Matter Most To Procurement Pros in 2019 No. #5https://procureinsights.com/2019/02/19/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-5/
https://procureinsights.com/2019/02/19/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-5/#respondTue, 19 Feb 2019 22:03:56 +0000http://procureinsights.com/?p=29678As a lead-up to my Beyond Trends: Transformational realities redefining procurement panel on March 12th, I reached out to people in the procurement world asking them a simple, and somewhat straightforward question; in your opinion what do you believe is or will be the single most significant development that will impact procurement in 2019?

In this fifth post in the series, Chris Sawchuk who is the Principal and Global Procurement Advisory Practice Leader at The Hackett Group shares with us in his usual succinct, yet insightful manner what he believes will have the most significant impact on procurement in 2019.

“As we have seen over the last year or so, I believe and continue to believe that the most serious significant development in the supply space is “digital transformation” as it will fundamentally change the way organizational supply management capabilities are built, sustained, resourced and valued.” – Chris Sawchuk

Besides writing countless articles and moderating a series of webinars on the subject, digital transformation is a topic with which I am very familiar. This familiarity has been further augmented by the opportunity I have had to speak with some of the IT Industry’s top executives leading up to Activate Digital 2019 in Toronto later this month. Be sure to check out the big banner on the main page of this blog for more information on the conference.

One of the things that I have found most interesting regarding the digital age is the existing gap between digital promise and digital realization. Specifically – and I am citing a McKinsey study here, of the 1,600 global company executives they surveyed 23 percent have a digital reinvention strategy and of those just 2 percent have a digital plan for their supply chain.

“In 2010, the IoT device ratio to person globally was 1.84. By 2020 it will be up to 10 web-connected devices per every person. In short, and in the digital age, people have moved beyond the cloud to the edge.” – To Succeed In The Digital Age, You Need To Work At The Edge, Paula Hodgins, President HPE Canada (February 15th, 2019)

Conversely, and according to an article by HPE President Paula Hodgins the proliferation of IoT devices will grow exponentially, and with it the convenience and access to work beyond the cloud on “the edge.” This growth means that the power of digital will be in the hands of everyone including procurement professionals.

So if the capability is there along with the promise to which Chris refers then what has to happen to make digital real?

A January 18th, 2019 CIO article offers an answer. In his post “Digital workplace strategy: 10 steps to greater agility, productivity,” Senior CIO writer Clint Boulton suggests that “your digital transformation is doomed unless you empower employees to succeed in the digital era.” A big part of that empowerment according to Boulton is to “craft a workplace that boosts engagement and agility.” In short, it is up to senior management to empower their workforce to realize the digital promise and all of the benefits that encompass it.

In this regard, an article by VMware’s Director – End User Computing Office Strategy Michael Olney would be both timely and worthwhile reading. Check out his The 3 Ws Of Digital Transformation Success through the following link.

In the next installment in this series, another industry thought leader will be offering their views on what will have the most significant impact on the procurement world in 2019.

]]>https://procureinsights.com/2019/02/19/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-5/feed/0Chris BannerprocureinsightsBeyond Trends: Industry Experts And Practitioners Weigh In On What Will Matter Most To Procurement Pros in 2019 No. #4https://procureinsights.com/2019/02/14/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-4/
https://procureinsights.com/2019/02/14/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-4/#respondThu, 14 Feb 2019 15:54:12 +0000http://procureinsights.com/?p=29671As a lead-up to my Beyond Trends: Transformational realities redefining procurement panel on March 12th, I reached out to people in the procurement world asking them a simple, and somewhat straightforward question; in your opinion what do you believe is or will be the single most significant development that will impact procurement in 2019?

In this fourth post in the series, American author, educator and a lead researcher at the University of Tennessee Kate Vitasek Talks about the significant “global” impact that tariffs are and will continue to have on the procurement world.

“Some tariffs affect a given product wherever it is sourced, while others target certain countries. And although tariffs are taxes on imports, they cause price increases on domestically-produced products. So those steel tariffs are pushing up the price of steel made in America.” – Trump’s Tariffs, Supply Chains And Other Risks – Forbes, July 28th, 2018

Politics!

When I spoke with Kate about what she believed would have the most significant impact on procurement in 2019, she talked about the “pettiness” of countries making it hard to do business. Specifically, countries are being “mean” to the U.S. by way of imposing tariffs because “Trump has been mean to them.”

Although she travels the world extensively, a resident of Seattle, Kate not surprisingly cited how Boeing orders were “being stalled” because of steel tariffs. As a Canadian, I am familiar with the Boeing – Bombardier dispute, so trade wars is not a subject with which I am unfamiliar.

What is interesting about Kate’s views is her unique perspective regarding the breadth of impact that tariffs are having on everything from airplanes to cranberries.

In talking about the skyrocketing costs because of tariffs on Chinese built products, and political upheaval such as the yellow vest movement one thing is clear; the challenge for procurement professionals is to find alternative sources in an increasingly unpredictable global marketplace.

In the next installment in this series, Principal and Global Procurement Advisory Practice Leader at The Hackett Group Chris Sawchuk will talk “digital transformation.”

]]>https://procureinsights.com/2019/02/14/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-4/feed/0Kate BannerprocureinsightsTake Your Seat: Based On IDC Predictions Now Is Time For Procurement To Step Up To The Platehttps://procureinsights.com/2019/02/12/take-your-seat-based-on-idc-predictions-now-is-time-for-procurement-to-step-up-to-the-plate/
https://procureinsights.com/2019/02/12/take-your-seat-based-on-idc-predictions-now-is-time-for-procurement-to-step-up-to-the-plate/#commentsTue, 12 Feb 2019 16:17:02 +0000http://procureinsights.com/?p=29665Digital Transformation.

Everyone’s talking about it, but according to a McKinsey Survey of 1,600 companies around the globe, only 23 percent of the executives who responded to their survey have a digital strategy in place.

From a procurement standpoint, just 2 percent of those companies have a strategy regarding a digital supply chain. Where is the disconnect, and how do you bridge the divide between digital concept and digital realization?

To start and referring to a Gartner report indicating that CMOs will be spending more money than CIOs on technology, procurement professionals must recognize that digital transformation is no longer solely an IT department undertaking. This shift in redistributed responsibility is reflected in the IDC direction that “Digital thinking” must be an integral part of every business leader’s skill set — not delegated to the organization’s IT leadership.

In short, and like CMO’s, CPOs must take the lead in transforming their organization’s procurement practice.

Take Your Seat!

Digitization is not “confined”: to just one part of the enterprise (like customer-facing functions or online commerce organizations); it is transforming major aspects of enterprises’ offerings, operations, and relationships. With such a pervasive business impact, isolated oversight by a single executive (e.g., a chief digital officer) is unsustainable. – IDC FutureScape: Worldwide IT Industry 2019 Predictions

I entered the high tech industry in 1983 – 36 years ago and not too long afterward the procurement world.

Over the years, I have been witness to some amazing technological breakthroughs and industry trends that have reshaped not just the business world, but our everyday lives.

However, and like the sun rising in the east and setting in the west, what has not changed is the procurement professional’s lament that they did not have a seat at the executive table.

My take away from the IDC study is that we have to stop asking and sit down and take our seat.

To do this, we must expand our idea as to what procurement is all about to include a better understanding of the critical touchpoints both within and external to our organizations and our influence on them. In other words, we have to drive the digital transformation of our supply chain in much the same way that CMO’s are taking the digital lead regarding customer touchpoints.

To do this, we need to become well versed in not only the possibilities associated with digital transformation but the specific tools that are available to us from the ground to the cloud and even more important to the edge.

In this context, all procurement professionals would be wise to remember the words of Walt Disney: “The way to get started is to quit talking and begin doing.”

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]]>https://procureinsights.com/2019/02/12/take-your-seat-based-on-idc-predictions-now-is-time-for-procurement-to-step-up-to-the-plate/feed/2IDC Disney BannerprocureinsightsBeyond Trends: Industry Experts And Practitioners Weigh In On What Will Matter Most To Procurement Pros in 2019 No. #3https://procureinsights.com/2019/02/06/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-3/
https://procureinsights.com/2019/02/06/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-3/#respondWed, 06 Feb 2019 20:46:32 +0000http://procureinsights.com/?p=29662As a lead-up to my Beyond Trends: Transformational realities redefining procurement panel on March 12th, I reached out to people in the procurement world asking them a simple, and somewhat straightforward question; in your opinion what do you believe is or will be the single most significant development that will impact procurement in 2019?

In this third post in the series, David Loseby – who will be one of the panelists that will join me on March 12th, shares his take on what will have the most significant impact on the procurement world based on his conversations and interactions with members of the CEO/CFO community.

Here is what David had to say:

1. Tough and uncertain markets will mean lower investment and a continued focus on cost saving for procurement as an unashamed but necessary demand.

2. Those that move into the space of the value architect will be more highly valued and represent the premium resource that will drive the shift in traditional thinking:

* Contracts that address not just the cost savings (and yes they are needed) but address sales (reciprocal business to drive top line and profitability);

* New products that are exclusive and drive additional sales;

* Embracing collaborative co-creative value through better use of contract compliance models that adopt the practices established in Behavioral Science through nudges versus penal policies.

In short, relying on mandates and traditional processes and models are being left behind, and the progression to more value-based professionalism will accelerate over 2019 and create a clearer differential with the traditional approaches and practitioners.

In the next installment in this series, author, educator, and architect of the Vested business model Kate Vitasek will tell us why she believes Tariffs will have the greatest impact on procurement in 2019 and beyond.

]]>https://procureinsights.com/2019/02/06/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-3/feed/0Mar 2019 Webinar - Post 3procureinsightsBeyond Trends: Industry Experts And Practitioners Weigh In On What Will Matter Most To Procurement Pros in 2019 No. #2https://procureinsights.com/2019/02/05/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-2/
https://procureinsights.com/2019/02/05/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-2/#respondTue, 05 Feb 2019 14:25:16 +0000http://procureinsights.com/?p=29659As a lead-up to my Beyond Trends: Transformational realities redefining procurement panel on March 12th, I reached out to people in the procurement world asking them a simple, and somewhat straightforward question; in your opinion what do you believe is or will be the single most significant development that will impact procurement in 2019?

Okay, and as I said earlier, simple may be an understatement, as there are unprecedented changes on the near horizon that will forever change what we do and how we do it.

In the second post in the series, Stephen Bauld who over 39 years in public and private sector procurement has distinguished himself as a speaker, noted industry author, will share his view on a controversial Bill in Ontario.

Why should you care about a Bill in Ontario, Canada?

While I will encourage you to read Stephen’s series of articles on Bill 66 through the Daily Commercial News link, it is the broader more universal challenges with an open public sector tendering process beyond a localized Provincial Bill and its unintended consequences in that you should note and consider. In short and as Stephen so adeptly put it:

“The government wants to cut through red tape and at the same time develop a procurement process that would allow a completely open bidding system for everyone to participate in. I don’t believe for one minute that the intent was ever to create larger problems to a government procurement process that is already fraught with skepticism.”

With public sector entities attempting to move to a procurement practice that opens up the tendering process to a more significant number of potential suppliers in areas such as construction, are initiatives like a Bill 66 viable without first fixing old problems and contemplating and addressing new ones?

To take it a step further and expand the question to broader procurement efforts in the public sector, will increased engagement through new and potentially looser tendering guidelines lead to more widespread distribution of contracts over the extended supply base than it does today. i.e., a greater sharing of the wealth that is taxpayer dollars?

The questions are many, the answers are few. For this reason, Stephen’s insights apply to any government procurement practice, no matter where in the world.

In the next installment in this series, CPO, Advisor, Author and Global Board of Trustees Member of CIPS David Loseby FAPM, FCMI, FCIPS Chartered, FRSA will share his insights regarding the peer conversations and interactions he has had with the CEO/CFO community.

]]>https://procureinsights.com/2019/02/05/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019-no-2/feed/0Mar 2019 Webinar - Post 2procureinsightsTell Us What You Think (POLL): Excel Spreadsheets Is Still A Thing?https://procureinsights.com/2019/02/04/tell-us-what-you-think-poll-excel-spreadsheets-is-still-a-thing/
https://procureinsights.com/2019/02/04/tell-us-what-you-think-poll-excel-spreadsheets-is-still-a-thing/#respondMon, 04 Feb 2019 19:57:42 +0000http://procureinsights.com/?p=29656You have a voice, and we want you to use it. Excel spreadsheet use in the procurement world is still widespread despite the advent of cloud-based, intuitively user-friendly platforms and apps. So here is our newest poll, tell us what you think.

With the 8th February “Beyond The Bolt” Webinar, we are seeking to do more than providing you with timely information on how the digital age will impact your procurement practice. We want to take your experience to the next level through a highly interactive discussion featuring some of our industry’s top thought leaders.

With this in mind, we would like to introduce you to one of the panelists who will be participating in the webinar discussion; Tim Cummins.

PERSONAL BIO

New York City, USA

Tim’s career included successful growth in corporate banking, automotive, aerospace and technology industries, plus leadership of start-ups. Today, he travel the world, meeting and speaking with major corporations, government officials, politicians, NGOs, academics and entrepreneurs, spreading belief that we can do things better. Tim’s words are backed by the strength of research and practical examples of the benefit that comes from enabling commercial innovation.

Panelist SOUNDBITE

“I believe that commercial innovation is fundamental to human creativity and the development of sustainable trading relationships. My experience has shown me that academia and business do not invest sufficiently in creating the necessary skills or structure for commercial competence to flourish.”

]]>https://procureinsights.com/2019/02/04/meet-expert-guest-panellist-beyond-the-bolt-webinar/feed/0Tim CumminsprocureinsightsBeyond Trends: Industry Experts And Practitioners Weigh In On What Will Matter Most To Procurement Pros in 2019https://procureinsights.com/2019/01/31/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019/
https://procureinsights.com/2019/01/31/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019/#respondThu, 31 Jan 2019 20:07:09 +0000http://procureinsights.com/?p=29649As a lead-up to my Beyond Trends: Transformational realities redefining procurement panel on March 12th, I reached out to people in the procurement world asking them a simple, and somewhat straightforward question; in your opinion what do you believe is or will be the single most significant development that will impact procurement in 2019?

Okay, simple may be an understatement, as there are unprecedented changes on the near horizon that will forever change what we do and how we do it.

In certain instances, I received brief yet insightful commentaries from industry thought leaders as well as practitioners via email. Other times, I had the opportunity to talk with these individuals at some length. In both cases, the revelations were interesting and perhaps to some will be surprising.

In today’s first post in the series, Jack Shaw who, among the many accolades he has received was voted as one of the Top 5 Futurists in the world, talks about the rapidly shifting technological landscape and its impact on procurement.

Here is what Jack had to say:

“The most important development that will impact procurement in 2019 will NOT be a single event. Instead, it will be that, by the end of 2019, we’ll have seen a dramatically increased recognition on the part of CPO’s and other procurement executives of the importance of digital transformation for procurement. This will be driven by an increased understanding of the strategic business impact on procurement processes and supply chain ecosystems of such critical emerging technologies Robotic Process Automation (and other forms of AI), of the Internet of Things technologies, of 3D Printing, and, most importantly, of Blockchain. As a result, CPO’s will be much more proactively developing well thought through business strategies for incorporating these technologies into their business processes and procurement strategies.”

In the next installment in this series, I will share with you a brief overview of a non-technical perspective from an industry veteran and recognized thought leader who’s travels have taken him to four different countries in December alone. Stay tuned.

]]>https://procureinsights.com/2019/01/31/beyond-trends-industry-experts-and-practitioners-weigh-in-on-what-will-matter-most-to-procurement-pros-in-2019/feed/0mar2019webinar-post1procureinsightsGoing Beyond The Ubiquity Of Trendshttps://procureinsights.com/2019/01/25/going-beyond-the-ubiquity-of-trends/
https://procureinsights.com/2019/01/25/going-beyond-the-ubiquity-of-trends/#respondFri, 25 Jan 2019 14:13:25 +0000http://procureinsights.com/?p=29643Advanced Notice: This will be a great webinar with a panel of industry thought leaders who will take you beyond the trends that are reshaping your business world! #Trends2019

With the 8th February “Beyond The Bolt” Webinar, we are seeking to do more than providing you with timely information on how the digital age will impact your procurement practice. We want to take your experience to the next level through a highly interactive discussion featuring some of our industry’s top thought leaders.

With this in mind, we would like to introduce you to one of the panellists who will be participating in the webinar discussion; Sheena Donaldson.